$INIT just got hit hard, sliding to 0.0880 USDT, down 16.51% on the day. Sellers were ruthless, dragging price from the 0.1232 high straight into panic territory, but bulls finally showed up near the 0.0859 low, defending it like a last fortress.
The trend is clearly bearish for now — price is below all key MAs
MA7 0.0885, MA25 0.0933, MA99 0.1033 — telling us momentum is still heavy on the downside. Volume exploded (136M INIT traded), confirming this wasn’t a quiet dip… it was an emotional shakeout.
Right now, INIT is trying to breathe and stabilize around 0.088, forming a tight range. A clean bounce could aim for 0.0915 → 0.0987, but rejection there may invite another test of 0.085 support.
Fear ruled the session, weak hands folded, and now the chart waits…
Relief bounce or one more flush?
This is where patience beats panic.